ICICI Bank Limited (NYSE:IBN) Increases Dividend to $0.20 Per Share

ICICI Bank Limited (NYSE:IBN) declared an annual dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Friday, January 1st will be given a dividend of 0.2028 per share by the bank on Monday, August 12th. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, August 12th. This is a boost from ICICI Bank’s previous annual dividend of $0.11.

ICICI Bank has a payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect ICICI Bank to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.19 annual dividend with an expected future payout ratio of 11.0%.

ICICI Bank Stock Performance

NYSE IBN opened at $27.94 on Thursday. The company has a market cap of $98.29 billion, a P/E ratio of 19.99, a PEG ratio of 2.32 and a beta of 1.04. ICICI Bank has a 12-month low of $21.89 and a 12-month high of $29.66. The company has a fifty day simple moving average of $28.15 and a 200 day simple moving average of $26.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

ICICI Bank Company Profile

ICICI Bank Limited provides various banking products and services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits services.